Bank of Queensland (ASX:BOQ) Full Year 2024 Results

Key Financial Results

• Revenue: AU$1.57b (down 7.5% from FY 2023).
• Net income: AU$284.0m (up 139% from FY 2023).
• Profit margin: 18% (up from 7.0% in FY 2023). The increase in margin was driven by lower expenses.
• EPS: AU$0.43 (up from AU$0.18 in FY 2023).

BOQ Banking Performance Indicators

• Net interest margin (NIM): 1.56% (down from 1.69% in FY 2023).
• Cost-to-income ratio: 66.8% (up from 58.0% in FY 2023).
• Non-performing loans: 0.13% (down from 0.14% in FY 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Bank of Queensland EPS Misses Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 1.2%.

The primary driver behind last 12 months revenue was the Retail Banking segment contributing a total revenue of AU$878.0m (56% of total revenue). The largest operating expense was General & Administrative costs, amounting to AU$848.0m (66% of total expenses). Explore how BOQ's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 4.5% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Banks industry in Australia.

Performance of the Australian Banks industry.

The company's shares are up 15% from a week ago.

Risk Analysis

Before you take the next step you should know about the 1 warning sign for Bank of Queensland that we have uncovered.

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